62,284 Shares in Tri-Continental Co. (NYSE:TY) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in Tri-Continental Co. (NYSE:TY - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,284 shares of the investment management company's stock, valued at approximately $1,852,000. Sanctuary Advisors LLC owned about 0.12% of Tri-Continental at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TY. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Tri-Continental by 19.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the investment management company's stock valued at $111,000 after acquiring an additional 579 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Tri-Continental during the second quarter valued at $327,000. Cornerstone Advisors LLC boosted its stake in shares of Tri-Continental by 18.1% during the second quarter. Cornerstone Advisors LLC now owns 167,382 shares of the investment management company's stock valued at $5,184,000 after acquiring an additional 25,646 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of Tri-Continental by 3.6% during the second quarter. Johnson Investment Counsel Inc. now owns 16,815 shares of the investment management company's stock valued at $521,000 after acquiring an additional 586 shares during the last quarter. Finally, Savant Capital LLC boosted its stake in shares of Tri-Continental by 12.5% during the second quarter. Savant Capital LLC now owns 19,030 shares of the investment management company's stock valued at $589,000 after acquiring an additional 2,110 shares during the last quarter. 10.22% of the stock is owned by hedge funds and other institutional investors.

Tri-Continental Stock Up 0.6 %

Shares of TY traded up $0.21 during trading hours on Wednesday, reaching $33.18. 29,854 shares of the company traded hands, compared to its average volume of 38,734. Tri-Continental Co. has a fifty-two week low of $25.16 and a fifty-two week high of $33.25. The stock has a fifty day simple moving average of $32.00 and a 200 day simple moving average of $31.11.

Tri-Continental Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were paid a dividend of $0.291 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.51%. This is a positive change from Tri-Continental's previous quarterly dividend of $0.29.

About Tri-Continental

Tri-Continental Corporation is a closed ended equity mutual fund launched and managed by Columbia Management Investment Advisers, LLC. It primarily invests in the public equity markets of the United States. The fund invests in stocks of companies that operate across diversified sectors. It seeks to invest in stocks of large-cap companies.